Following recommendations of the Congress of Workers and Productive Councils, the Labor and Welfare Ministry coordinated to fight speculation in the productive sector to positively impact on the country's economy, the minister said in statements to AVN.

Piñate stressed that 60 percent of Venezuelan workers are employed in the formal economy with rights to salary, social security and benefits, while 40 percent Works in the informal economy.

Despite the economic war the country is facing, the government has been able to reduce unemployment by 6 percent, he said.

In negotiations between the National Government and business sectors to discuss cost and prices of basic products, the main issue under discussion is cost of production, he added.

He spoke of the responsibility both of the public and private sectors to take on the challenge of production to lessen speculation national authorities are fighting under the ongoing economic recovery program since last August.

Following recommendations of the Congress of Workers and Productive Councils, the Labor and Welfare Ministry coordinated to fight speculation in the productive sector to positively impact on the country's economy, the minister said in statements to AVN.

Piñate stressed that 60 percent of Venezuelan workers are employed in the formal economy with rights to salary, social security and benefits, while 40 percent Works in the informal economy.

Despite the economic war the country is facing, the government has been able to reduce unemployment by 6 percent, he said.

In negotiations between the National Government and business sectors to discuss cost and prices of basic products, the main issue under discussion is cost of production, he added.

He spoke of the responsibility both of the public and private sectors to take on the challenge of production to lessen speculation national authorities are fighting under the ongoing economic recovery program since last August.